FY2023 EPS Estimates for Symbotic Inc. Decreased by Cantor Fitzgerald (NASDAQ:SYM)

Symbotic Inc. (NASDAQ:SYMGet Rating) – Equities research analysts at Cantor Fitzgerald reduced their FY2023 earnings per share (EPS) estimates for Symbotic in a report issued on Tuesday, November 22nd. Cantor Fitzgerald analyst D. Soderberg now forecasts that the company will earn ($0.19) per share for the year, down from their previous forecast of ($0.02). The consensus estimate for Symbotic’s current full-year earnings is ($0.01) per share.

A number of other equities research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Symbotic from $19.00 to $20.00 in a research note on Wednesday. Raymond James increased their target price on Symbotic from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. Needham & Company LLC lowered their target price on Symbotic from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday. Robert W. Baird lowered their target price on Symbotic from $20.00 to $18.00 in a research note on Tuesday. Finally, UBS Group began coverage on Symbotic in a research note on Monday, September 19th. They issued a “buy” rating and a $17.00 target price for the company. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.27.

Symbotic Trading Up 13.5 %

SYM stock opened at $12.22 on Thursday. Symbotic has a 1 year low of $8.75 and a 1 year high of $28.48. The firm has a market capitalization of $676.01 million, a price-to-earnings ratio of -1.15 and a beta of 1.24. The company has a 50-day moving average of $11.65.

Symbotic (NASDAQ:SYMGet Rating) last announced its quarterly earnings results on Monday, November 21st. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Symbotic had a negative return on equity of 558.47% and a negative net margin of 10.08%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SYM. SB Global Advisers Ltd bought a new position in Symbotic during the 2nd quarter worth approximately $219,400,000. Saba Capital Management L.P. lifted its holdings in Symbotic by 458.4% during the 3rd quarter. Saba Capital Management L.P. now owns 2,791,828 shares of the company’s stock worth $27,779,000 after buying an additional 2,291,828 shares during the last quarter. Navis Wealth Advisors LLC bought a new stake in shares of Symbotic in the 2nd quarter worth approximately $8,067,000. Vanguard Group Inc. bought a new stake in shares of Symbotic in the 3rd quarter worth approximately $1,523,000. Finally, BlackRock Inc. lifted its holdings in shares of Symbotic by 325.5% in the 3rd quarter. BlackRock Inc. now owns 170,213 shares of the company’s stock worth $1,958,000 after purchasing an additional 130,213 shares during the last quarter.

Symbotic Company Profile

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Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.

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Earnings History and Estimates for Symbotic (NASDAQ:SYM)

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